What is the greatest common divisor of $2^{1001}-1$ and $2^{1012}-1$?
Answer: By the Euclidean algorithm, \begin{align*}
&\text{gcd}\,(2^{1012}-1, 2^{1001}-1) \\
&\qquad= \text{gcd}\, (2^{1012}-1 - 2^{11}(2^{1001}-1), 2^{1001}-1) \\
&\qquad= \text{gcd}\,(2^{11}-1, 2^{1001}-1)
\end{align*} Using the divisibility rule for $11$, we know that $11$ divides into $1001$. Writing $2^{1001}$ as $(2^{11})^{91}$ and $1$ as $1^{91}$, we use the difference of odd powers factorization to find that   \[
2^{1001} - 1 = (2^{11})^{91}-1^{91} = (2^{11}-1)((2^{11})^{90} + (2^{11})^{89}+\cdots (2^{11})^1 + 1).
\] Thus $2^{1001}-1$ is divisible by $2^{11}-1$, so the greatest common divisor is $2^{11}-1 = \boxed{2047}$.